Financial Advisor Network, LLC’s Post

If a client of TIAA visited the company’s website and typed into the search bar a question about retirement planning, two sets of responses would be given. The first is a general list of responses that TIAA has traditionally offered to clients and the general public. But more recently, a second tab has appeared with another set of answers, offered from a beta version of TIAA’s “gAIt,” which uses generative artificial intelligence to share more tailored and specific information about retirement services.  Initially, this tool was meant to help all TIAA employees understand the financial jargon of retirement financial services. But it was so successful the generative AI tool is now offered publicly, too. “This is where we are now taking it—from what was a truly internal use case to educate our folks on this complex set of knowledge management—and starting to put that in the hands of our prospects and clients,” says Sastry Durvasula, chief information and client services officer at TIAA. Read more:

It seems like AI can do everything these days, from passing complex exams to telling jokes! But can it help you plan for your retirement? Learn more about whether or not AI is replacing financial advisors and how you can use AI to aid in your financial planning journey. #ai #artificialintelligence #financialguru #problemsolving #budgeting

How Emerging Tech Can Revolutionise the Pensions Industry. Jack Gray recently explored how the pensions industry can leverage new technologies to improve member outcomes and the potential impact of the EU AI Act in a recent European Pensions article. Our Market Strategy Director, Andy Dickson, shared insights on the challenges of providing personalised guidance to all pension scheme members: ”The industry has sought to improve communication and education approaches. The advent of AI could be the revolutionary solution to this perennial problem. Conversational AI can be deployed to deliver support and guidance for members at key moments such as: transfers, fraud and scam detection. It can be accessible 24/7 every day of the year and offered at extremely low costs compared to offering access to call centre staff.” At Engage Smarter AI, we believe that AI and emerging technologies can transform every step of the pension-saving journey. 🔗 Read the full article and more of Andy’s insights in the PDF below.

A report suggests that life after 50 will be radically different for those who have recently celebrated the milestone or are nearing it when compared to previous generations, and it could have implications for your financial plan. The research from Aegon looks at how lifestyles are changing for over-50s, dubbing this chapter of life the […] https://lnkd.in/dVhpqNeZ www.Cyprus-CEO.com #CEO #business #management #marketing #tech #AI #legal #money

A report suggests that life after 50 will be radically different for those who have recently celebrated the milestone or are nearing it when compared to previous generations, and it could have implications for your financial plan. The research from Aegon looks at how lifestyles are changing for over-50s, dubbing this chapter of life the […] https://lnkd.in/dVhpqNeZ www.Cyprus-CEO.com #CEO #business #management #marketing #tech #AI #legal #money

Here are the must-reads from today’s edition of Advisor Squawk (advisorsquawk.com). If you enjoy Advisor Squawk, please consider following our page on Linkedin. The Critical Role of Retirement Plan Design in Addressing Gender Retirement Savings Gap Managing Fiduciary Conflicts in Age of Convergence Fed Stays on Track for Rate Cuts With Ine Eye on Bumpy Inflation JD Power: Investor Satisfaction Up, But Millennials Feel Skittish Republicans Call for Raising the Retirement Age Does Your Personality Influence the Sale? The Biggest Mistake Clients & Advisors Make in Life Expectancy Planning Mastering Niche Marketing in Financial Advice Regulators Consider Guideline Best-Interest Rule to Address ‘Deficiencies’ Keep AI Marketing Legit to Avoid SEC’s Wrath, Lawyers Say …And 14 New Articles Covering Industry News, Practice Management and Compliance.

Significant AI Advancements Expected to Transform Retirement Financial Planning Services #AI #AIpoweredtools #artificialintelligence #Bloomberg #CEO #codedevelopment #contextspecificapplications #corporatestrategy #Costreduction #DataPrivacy #financialplanning #FinancialServices #GenerativeAI #GPTStore #Largelanguagemodels #llm #machinelearning #Monetization #MorganStanley #personalizedstrategies #QuantUniversity #regulatorychallenges #retirementplanning #SriKrishnamurthy #userexperience

https://lnkd.in/gdM4PMKw ‘Meteoric’: Sachs survey on the rise of RILA acceptance. #Annuities #BufferedAnnuities #RILAs #RetirementPlanning #FinancialSecurity #MarketVolatility #InvestmentStrategies #AI #FinancialAdvisors

AI in Risk Management: Securing the Future of Retirement Plans The landscape of retirement planning is fraught with risks, from market volatility to longevity uncertainties. Artificial Intelligence (AI) is emerging as a critical ally in navigating these challenges and enhancing risk management strategies to secure the future of retirement plans. AI's predictive capabilities enable a deeper understanding of risk factors, allowing plan administrators to anticipate and mitigate potential issues before they impact plan health or participant outcomes. By analyzing vast amounts of data, AI can identify trends and patterns that human analysts might overlook, providing a more nuanced approach to risk management. This technology not only aids in the strategic allocation of investments but also supports the development of more robust plan designs that can withstand economic fluctuations. The goal is clear: to protect participants' interests and ensure the stability and growth of retirement savings over time. Adopting AI in risk management practices represents a forward-thinking approach to retirement plan administration that prioritizes resilience and reliability in an unpredictable world. #RiskManagement #AI #Retirement #FutureProofing

Understanding How AI is Influencing Investing: What Retirees Need to Know As you approach or enjoy retirement, ensuring your financial decisions are smart and well-informed becomes even more critical. In recent years, artificial intelligence (AI) has become a powerful tool in the world of investing, with the potential to transform the way we manage portfolios and make decisions. However, as with any new technology, it’s important to understand both the benefits and the potential pitfalls. This week, we’ll explore how AI is shaping the investment landscape and what retirees, in particular, should keep in mind when integrating AI-driven tools into their financial planning. #retirement #ai #investing https://lnkd.in/eWccm6TZ